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Trump's Treasury Nominee Bessent Opposes US CBDC: 'No Reason to Have One'

During his confirmation hearing, Scott Bessent, President-elect Donald Trump's nominee for Treasury Secretary, stated that he sees no reason for the United States to have a Central Bank Digital Currency (CBDC)
By: DeepNewz • January 16, 2025
Trump's Treasury Nominee Bessent Opposes US CBDC: 'No Reason to Have One'

During his confirmation hearing, Scott Bessent, President-elect Donald Trump's nominee for Treasury Secretary, stated that he sees no reason for the United States to have a Central Bank Digital Currency (CBDC).

In response to questioning from Senator Blackburn, Bessent argued that CBDCs are for countries that lack other investment alternatives and that the US dollar is sufficient for the nation's needs. His stance indicates a move away from the development of a US CBDC, contrasting with other regions like the Eurozone that are exploring digital currencies.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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